Forecast for the Week 
- Look for the Fed’s Beige Book on Wednesday. Though this is not an economic report, it does carry some weight and can serve as a helpful indicator to FOMC decisions on monetary policy.
- Weekly Initial Jobless Claims will be released Thursday, as usual.
- We’ll get news on wholesale inflation via the Producer Price Index on Thursday. The Consumer Price Index follows on Friday.
- Also on Friday, Retail Sales, the Empire State Index manufacturing report and the Consumer Sentiment Index will be released.
When you see these Bond prices moving higher, it means home loan rates are improving. When Bond prices are moving lower, home loan rates are getting worse.
To go one step further, a red “candle” means that MBS worsened during the day, while a green “candle” means MBS improved during the day. Depending on how dramatic the changes are on any given day, this can cause rate changes throughout the day, as well as on the rate sheets we start with each morning.
Chart: Fannie Mae 3.0% Mortgage Bond (Friday July 8, 2016)
The Mortgage Market Guide View…
Bid on an Upgrade to First-Class Air Travel
Airlines are holding auctions that let you strike a deal to fly up front.
By Sandra Block, Kiplinger.com
You no longer need deep pockets or a vast arsenal of frequent-flier miles to travel in style. On more than 50 airlines, you may be able to buy a seat in the front of the plane for less than half the usual price of a first- or business-class ticket.
Here’s how it works: Select customers receive an e-mail inviting them to bid on an upgrade, or customers submit a bid on the airline’s website. Airlines set a minimum, so don’t expect to fly first class for $1, says Ken Harris, chief executive of Plusgrade, which manages most of the auction programs. You’re not charged unless your bid is accepted.
Most of the participating airlines, which include Lufthansa, Qantas and Aer Lingus, are international carriers. But Virgin America offers the program, and Hawaiian Airlines says it will add it soon, as will several other North American carriers, says Harris. Find the complete list at www.plusgrade.com.
Before bidding, go to ExpertFlyer.com to find out how many premium seats are available, says Richard Kerr, a frequent flier and contributor to The Points Guy blog. Even if there are plenty of open seats, bid $30 to $50 above the threshold. Most customers bid the minimum, Kerr says, so a slightly higher offer will give you a leg up.
Reprinted with permission. All Contents © 2016 The Kiplinger Washington Editors. Kiplinger.com.
Economic Calendar for the Week of July 11 – July 15
|
Date
|
ET
|
Economic Report
|
For
|
Estimate
|
Actual
|
Prior
|
Impact
|
| Wed. July 13 |
02:00
|
Beige Book |
Jul
|
NA
|
NA
|
Moderate
|
|
| Thu. July 14 |
08:30
|
Jobless Claims (Initial) |
7/09
|
NA
|
NA
|
Moderate
|
|
| Thu. July 14 |
08:30
|
Core Producer Price Index (PPI) |
Jun
|
NA
|
0.3%
|
Moderate
|
|
| Thu. July 14 |
08:30
|
Producer Price Index (PPI) |
Jun
|
NA
|
0.4%
|
Moderate
|
|
| Fri. July 15 |
08:30
|
Core Consumer Price Index (CPI) |
Jun
|
NA
|
0.2%
|
HIGH
|
|
| Fri. July 15 |
08:30
|
Consumer Price Index (CPI) |
Jun
|
NA
|
0.2%
|
HIGH
|
|
| Fri. July 15 |
08:30
|
Retail Sales ex-auto |
Jun
|
NA
|
0.4%
|
HIGH
|
|
| Fri. July 15 |
08:30
|
Retail Sales |
Jun
|
NA
|
0.5%
|
HIGH
|
|
| Fri. July 15 |
08:30
|
Empire State Index |
Jul
|
NA
|
6.0
|
Moderate
|
|
| Fri. July 15 |
10:00
|
Consumer Sentiment Index (UoM) |
Jul
|
NA
|
94.3
|
Moderate
|
The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors.
Mortgage Market Guide, LLC is the copyright owner or licensee of the content and/or information in this email, unless otherwise indicated. Mortgage Market Guide, LLC does not grant to you a license to any content, features or materials in this email. You may not distribute, download, or save a copy of any of the content or screens except as otherwise provided in our Terms and Conditions of Membership, for any purpose. The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors.
Mortgage Info By Michelle Wickett 